If you cannot get REO listings go after the REO buyers

Agents throughout the Country started scrambling to get REO listings during 2008 and the first part of 2009 unfortunately the window to get these listings for the majority had past. Agents are signing up for services that offer to place them on a list to receive REO listings and BPO opportunities, attending seminars on how to get REO listings and continuing to work every angle available in hopes of landing one of these hot properties.

Until the REO listing floodgates open up, agents should be going after the second part of the REO equation, the buyer/investor. If you direct you marketing and prospecting towards picking up the buyers looking for foreclosures, bank owned and distressed properties you will realize just as many sales as you would if you listed these hotly sought after listings. How can you get REO buyers? These 3 methods have proven successful for picking up new customers and clients.

1) Your office marquee sign should be offering a free list of bank owned properties to those who stop in. Companies sell foreclosure lists online and in the newspaper that interested buyers willingly pay for so imagine the interest you will generate by offering these lists for free!
2) Blogging about the REO market for your specific area will attract online users searching for this type of real estate. Making sure your blog title, content and keywords are location specific will help to increase the visits of those looking to buy an REO property in your market area.
3) REO homes add to the attractiveness of this real estate market to first time home buyers. The low prices these properties are being offered for in some cases coupled with the tax credit and low interest rates available provide strong reasons why a renter or potentially new home owner would want to buy. Your job is letting them know. Make sure you have a direct mail or direct phone campaign in place directed to renters in your area.

You don’t have to be the listing agent to enjoy the success that selling REO properties are creating in this market. You just need to have the buyers that make up the second part of the deal.